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Confidence and financial crisis in a post-keynesian stock-flow consistent model

Abstract : The paper aims at showing that one of the main channels by which the US 2007 financial crisis became a real and global economic crisis is the 'confidence channel', i.e. that the financial crisis affected firms, banks and households? expectations and confidence, thus leading to what they were fearing. And I propose to model expectations and the state of confidence of private agents to use the indexes calculated by national statistical services from monthly polls.
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https://halshs.archives-ouvertes.fr/halshs-00646622
Contributor : Caroline Sagat <>
Submitted on : Wednesday, November 30, 2011 - 2:05:01 PM
Last modification on : Wednesday, February 5, 2020 - 3:00:07 PM

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  • HAL Id : halshs-00646622, version 1

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Edwin Le Héron. Confidence and financial crisis in a post-keynesian stock-flow consistent model. Intervention. European Journal of economics and economic policy, 2011, 8 (2), pp.361-388. ⟨halshs-00646622⟩

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